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SEBI bans Pacheli Industrial Finance Ltd and related firms from trading, suspecting a "pump and dump" scheme.
India's market regulator, SEBI, has banned Pacheli Industrial Finance Ltd and six related entities from trading after the company’s share price surged 372% in a month, reaching an abnormal P/E ratio of 400,000.
SEBI suspects a "pump and dump" scheme, as the company showed negligible revenues over the last three years.
The regulator halted trading and froze preferential allottees' shareholdings, raising questions about market manipulation.
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SEBI prohíbe a Pacheli Industrial Finance Ltd y empresas relacionadas comerciar, sospechando un esquema de "bomba y volcado".